Nantahala Capital Management LLC Reduces Holdings in Unicycive Therapeutics, Inc. $UNCY

Key Points

• Nantahala Capital Management LLC sold 1,000,000 shares of Unicycive Therapeutics, reducing its holdings by 9.6% to own 9,391,994 shares valued at $5,399,000.
• Analysts have shown positive sentiment towards Unicycive Therapeutics, with a consensus Buy rating and a target price of around $60.00.
• Currently, institutional investors hold approximately 40.42% of Unicycive Therapeutics stock, indicating significant interest from large financial entities.

Nantahala Capital Management LLC decreased its position in shares of Unicycive Therapeutics, Inc. (NASDAQ:UNCY - Free Report) by 9.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,391,994 shares of the company's stock after selling 1,000,000 shares during the period. Nantahala Capital Management LLC owned 7.79% of Unicycive Therapeutics worth $5,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vivo Capital LLC raised its stake in Unicycive Therapeutics by 14.0% during the 1st quarter. Vivo Capital LLC now owns 11,370,152 shares of the company's stock worth $6,537,000 after acquiring an additional 1,400,000 shares during the period. Octagon Capital Advisors LP raised its stake in Unicycive Therapeutics by 16.8% during the 4th quarter. Octagon Capital Advisors LP now owns 10,000,000 shares of the company's stock worth $7,942,000 after acquiring an additional 1,441,000 shares during the period. Finally, Northern Trust Corp grew its holdings in Unicycive Therapeutics by 142.4% during the 4th quarter. Northern Trust Corp now owns 58,181 shares of the company's stock valued at $46,000 after buying an additional 34,183 shares in the last quarter. Institutional investors own 40.42% of the company's stock.

Unicycive Therapeutics Stock Performance

Shares of UNCY traded up $0.04 during mid-day trading on Friday, hitting $4.36. 321,467 shares of the stock were exchanged, compared to its average volume of 467,263. The company has a market cap of $77.00 million, a PE ratio of -1.06 and a beta of 1.87. Unicycive Therapeutics, Inc. has a 52-week low of $3.40 and a 52-week high of $11.00. The firm has a 50-day moving average of $4.47 and a two-hundred day moving average of $5.52.

Unicycive Therapeutics (NASDAQ:UNCY - Get Free Report) last posted its earnings results on Thursday, August 14th. The company reported ($0.52) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.18. On average, sell-side analysts predict that Unicycive Therapeutics, Inc. will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UNCY shares. HC Wainwright raised shares of Unicycive Therapeutics to a "strong-buy" rating and set a $90.00 target price on the stock in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Unicycive Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, Unicycive Therapeutics has an average rating of "Buy" and an average target price of $60.00.

About Unicycive Therapeutics

Unicycive Therapeutics, Inc, a biotechnology company, engages in developing novel therapies for kidney diseases in the United States. It is developing Renazorb for treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis; and UNI 494, which is in Phase 1 clinical trials for treatment of acute kidney injury.